675 Moraine Court Kelowna, BC V1X 5X2

Property Photo: 675 Moraine Court BC V1X 5X2

Listing Courtesy of: ASSOCIATION OF INTERIOR REALTORS / Century 21 Assurance Realty Ltd. / Kattlin Stass

675 Moraine Court Kelowna, BC V1X 5X2

Active (10 Days)

$1,600,000

0.47

ACRES

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Description

Located on a quiet street in the desirable Spring Valley neighbourhood, this sizeable 0.47 acre lot is the perfect site for your future townhouse development. The city supports rezoning this parcel to MF2 to accommodate up to 20,400sq ft GFA (Base FAR: 1.0). At two stories in height, this property can comfortably accommodate 14x 1,300sq ft townhouses, but greater density could be achieved if building up a 3rd story (up to FAR: 1.3 possible w/ Public Amenity or Rental Bonus). The existing house and sizeable workshop will provide solid rental income while you are perfecting your development plans, and proximity to shopping, restaurants, schools, parks, Mission Park Greenway, Orchard Park Mall, Costco, public transit, and much more will aide your future development in being a big success! The Property Transfer Tax Exemption on new construction means that a buyer can purchase a $650k townhouse with less than $45k down if they included the GST in their mortgage, and the upcoming change allowing high-ratio mortgages to amortize new construction over 30 years could result in said buyer’s mortgage payment being less than $3k/mo (assuming 3.5% interest rate at time of project completion). Sample floor plans have been provided to demonstrate what is possible, but the size and shape of this lot affords considerable flexibility to realize your own development vision.

MLS®:
10318219

Taxes
$5,237(2024)

Lot Size
0.47 acres

Type
Land

County
Central Okanagan

Listed By

Kattlin Stass, Century 21 Assurance Realty Ltd.

Source
ASSOCIATION OF INTERIOR REALTORS
Last checked Sep 8 2024 at 12:01 AM PDT

Bathroom Details

Lot Information

Paved
Near Public Transit
Near Park
Level
Landscaped
Dead End
Cul-De-Sac
Central Business District

Utility Information

Utilities: Water Source: Public, Water Available, Sewer Available, Phone Available, Natural Gas Available, Electricity Available, Cable Available
Sewer: Public Sewer

Location

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Disclaimer: Copyright 2024 Association of Interior Realtors. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 9/7/24 17:01

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251 Harvey Avenue, Kelowna, BC V1Y 6C2

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